In a significant move to promote affordable housing, the Indian government has introduced a new subsidy scheme aimed at first-time homebuyers. The scheme offers interest subsidies on home loans up to ₹35 lakh, making homeownership more accessible for the middle-income group. This initiative is expected to stimulate the real estate sector and provide a much-needed boost to the housing market.
The subsidy will be directly credited to the beneficiary’s loan account, reducing the overall loan burden. Financial experts believe this move will not only benefit homebuyers but also create employment opportunities in construction and allied industries. Prospective homeowners are encouraged to check their eligibility and apply through authorized financial institutions.
